An open meeting for all members and prospective members of USS at Cambridge was held on 4 October in the Babbage Lecture Theatre.
At the meeting, Dr Daniel Weiss, Senior Lecturer in the Faculty of Divinity and member of Cambridge UCU’s Executive Committee, outlined the current position for USS members, covering the conclusion of the 2018 valuation and what had happened following the report from the Joint Expert Panel (JEP) in September of last year. He also spoke in detail about UCU’s position in the USS dispute, and why the union was balloting members on strike action.
Anthony Odgers, the University’s Chief Financial Officer and UUK-appointed member of the USS Joint Negotiating Committee, spoke about the forthcoming 2020 valuation, and the importance of UUK and UCU working together to make a persuasive case to the Trustee and Regulator to review the way in which valuations are carried out. Reference was made to the University’s submission to the JEP’s most recent phase of work, which is available here. This response outlined how alternative approaches to USS’s valuation methodology could provide a more stable framework for long-term funding and benefit provision without steep rises in total contribution rates.
The floor was opened for questions, which covered subjects including approaches to the valuation, the University’s engagement with UCU, and the affordability of pensions contributions for members of staff.
A recording of the meeting, with the presentation slides, is available here (Raven login required).
The slides are available here (Raven login required).